Pars Technology acquired by rival

NS Optimum confirms buyout of fallen rival

NS Optimum has emerged as the winner in the race to acquire fallen systems builder Pars Technology.

Pars was placed into administration in February, with Solihull-based insolvency practitioner Rendle & Co brought in to oversee operations. Its demise was blamed on the firm's failure to secure a sizeable VAT repayment claim from HMRC.

At the time, channel sources named rival systems builders Stone Computers and Viglen as the mostly likely candidates to acquire the firm.

In a statement, NS Optimum, an education-focused systems builder, confirmed it had bought the firm from Rendle & Co for an undisclosed sum.

The company staged a management buyout earlier this year, backed by private equity house Pemberton Capital, and said Pars is the first of many acquisitions it is plotting in the education market.

In the interim, Andrew Rutley, managing director at NS Optimum, said the firm's immediate priority is securing ongoing IT support for Pars customers.

"Pars has a great brand and a loyal customer base which we can provide with an excellent service," said Rutley.

"NS Optimum does not want to see any school or college left in a support vacuum and we will do everything possible to help Pars customers to this end."